How VC Firms Can Embrace Hybrid Work with Shared Office Spaces

According to JLL’s 2022 Future of Work study, more than half of all organizations plan to make remote work permanently available by 2025. In many cases, though, remote work is just part of the mix: some days in the office, some days at home (or wherever you happen to be).

Many companies are turning to coworking spaces to support this hybrid work because of the flexibility they allow: office space for those who need it, when they need it.

But coworking doesn’t tend to work for VC firms. The traditional coworking space isn’t private enough or secure enough for the types of clients VCs host or the sensitive financial information they handle. Plus, according to VCs we’ve spoken to who have tried coworking, it’s hard to get any work done because eager founders keep knocking on the door.

That’s where proworking comes in. Designed to be both flexible and private, proworking combines the best of the traditional office with the flexibility of shared spaces. Here are four advantages VC firms can enjoy by embracing hybrid work in a shared office space.

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1. Attract and Retain Talent More Easily

One of the key insights from the JLL report is that hybrid work is critical for attracting and retaining talent.

Why? Employees got used to flexible work during the pandemic, and they aren’t willing to give it up. It’s easy to understand why. Employees discovered that hybrid work improves work-life balance, increases efficiency and productivity, and decreases burnout and fatigue.

These benefits were clear even when VC firms were still thinking of hybrid work as a temporary solution to the acute problem of the pandemic. Today, hybrid work is increasingly viewed as a perk – if not an emblem of company values and culture.

Once upon a time, VC firms largely ignored culture, both in their offices and the offices of companies they funded. But that’s changing, thanks in part to cautionary tales like Uber and inspirational ones like Zappos.

And in this time of the Great Resignation, VC firms are even starting to lead by example, investing in their own cultures and applying those values to fostering better cultures in the companies they fund. Empowering employees to work where and how they want to can go a long way toward creating and maintaining a positive culture.

2. Reduce Operational Costs

When employees only come into the office a few days a week, leasing a full-capacity office full time suddenly becomes a bad investment.

A proworking membership makes it possible to pay for only what you need: say, a dedicated four-person office where employees can cycle in and out, plus access to conference rooms as needed. And many shared spaces also offer offices throughout the country.

Meeting with potential clients in Austin or Atlanta is easy when you can book a day pass or conference room and receive the same convenience, privacy, and professional services employees are already used to at headquarters.

The spaces best-suited to VC firms’ needs also offer a suite of professional services on site: notary public, printing, IT support, shipping and mailing support, etc.

3. Expand Client Searches Nationwide

For a VC firm, deal flow is everything. And research shows that 30 percent of a VC firm’s deals come from work colleagues and acquaintances. The right shared working space helps you grow that pool.

Each Firmspace location cultivates a group of like-minded professionals. Inevitably, professional recommendations and relationships will evolve – whether with a VC firm down the hall or with an M&A attorney in the office next door. While our members choose our spaces for the privacy they provide, we also host communal events that facilitate connections for those interested in branching out.

4. Gain Space for Deep Work

Once the deal is done, early-stage company building is often the foundation for VC success. This kind of deep work is best done in person with the team, or at the very least, with conferencing technology that’s up for the task.

The conference rooms and offices at Firmspace are optimized for exactly that. Equipped with meeting management systems, they are designed to minimize distraction and help employees complete the task at hand. IT support is also on site, so if a technical glitch does crop up, someone will be there to resolve it.

The Unexpected Benefits of Shared Office Space 

Shared office space can be more than just the place where work gets done. It can reflect your company values, bolster your bottom line, and help employees do their best work.

Interested in learning more about the unexpected benefits of shared office space? Reach out and book a tour of your local Firmspace location.